Markets

Wagga sale 6 Nov 2023: Quality high in 3880 head yarding

Leann Dax, 06/11/2023

Yarding 3880 Change +180

 The overall cattle quality was notably very good, particularly in the heavy export categories, boasting good supplies of bullocks weighing over 700kg.

However, the presence of some buyers was missed at the sale, which had a significant impact on the trade categories. There was  inadequate competition across trade categories, with buyers attempting to secure cattle below the 200c/kg threshold, marking a recurring theme in the market.

The major volume buyers were feedlot operators, yet they were not inclined to drive prices any higher. Feeder steers attracted a substantial number of buyers, resulting in medium-weight steers holding steady, averaging at 211c/kg. Equally, the prices of light-weight feed steers in the 330 to 400kg weight range faced competition from restockers, which helped maintain price stability, averaging at 210c/kg. Light-weight feeder heifers in the same weight category managed to recover from the previous week’s losses, averaging at 174c/kg. Despite remaining in demand, medium-weight feeder heifers experienced a 10c drop in price, averaging 180c/kg.

Trade steers and heifers met erratic demand, as buyers were cautious about competing with feedlot buyers. Heifers weighing between 400 and 500kg were sold at 8c cheaper, averaging at 178c, while trade steers were in reasonable numbers, with prices  dropping 20c, to fetch from 155c to 217c/kg.

In the export market, there was a notable increase in bidding for large heavy bullocks, driven by their quality. However, as the sale progressed, aged steers exerted downward pressure on prices, causing a 6c/kg decline. Heavy steers were sold at a 9c lower due to a key supermarket not returning this week. Heavy steers averaged at 209c/kg. Bullocks fetched prices ranging from 185c to 242c/kg.

Cows, particularly of excellent quality among the heavier types, maintained stable prices in the market. Heavy cows, classified as D4, were traded within the range of 176 to 192c, while leaner-grade cows saw prices fluctuating between 134 and 163c/kg.

Market reporter: Leanne Dax

Source: NLRS Click here to view full Wagga report on NLRS website.

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